Westminster’s Scottish Affairs Committee begin their inquiry into the future of the oil and gas sector on Tuesday (12 June) with a session providing an overview of the health of the industry and the challenges and opportunities that lie ahead.
The Committee will be taking evidence from trade association, Oil & Gas UK; regional business advocacy group, One North East; and union body, the Offshore Co-ordinating Group.
Scotland’s oil and gas industry is central to the UK economy, providing over three quarters of the total energy mix, approximately £17 billion to the UK’s balance of trade and supporting over 300,000 jobs. However, the industry faces challenges in terms of the long-term decline in production levels, reduced levels of investment, continued low oil prices and declining tax revenues.
The session will investigate the key factors that will decide the long term viability of the oil and gas industry in Scotland. It will examine the extent of oil reserves and current levels of exploration for economically viable extraction sites, as well as the impact of the UK Government’s Maximise Economic Recovery strategy. It will look at the challenges in the job market, both in attracting skilled workers and providing secure employment. The Committee will also consider the potential for skills and expertise to be transferred to renewable industries given the increase of measures to reduce emissions.
Tuesday 12 June: Committee Room 8
From 10:15am:
- Deirdre Michie, CEO, Oil & Gas UK
- Dr. Alix Thom, Workforce Engagement & Skills Manager, Oil & Gas UK
- Jenny Stanning, External Affairs Manager, Oil & Gas UK
From 11.15am:
- Sir Ian Wood GBE, Chairman, Opportunity North East
- Tommy Campbell, Chair, Offshore Co-Ordinating Group
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